The world’s largest cryptocurrency could be waiting for a fresh fundamental spark to trigger significant price swings.

Bitcoin has struggled for direction since the Federal Reserve announced its 50-basis point rate cut last week. Still, the world’s largest cryptocurrency could experience big price swings with the right fundamental drivers.

The RUS2000 has outperformed all of FXTM’s US stock indices, both on a week-to-date and month-to-date basis. However, it’s still a long way below its record-high posted back in November 2021. Here’s what could move the RUS2000 next week.

“Cable” briefly breached 1.330 after the Bank of England kept its rate unchanged at 5%. Moving forward, GBPUSD’s performance will be majorly influenced by the BOE’s policy outlook relative to the Fed, and is forecasted to trade between 1.2721 - 1.3776 through end-2024.